Series: Costs Down, Quality Up
Historically, initiatives to improve quality have also meant added cost—smaller class sizes, more faculty who conduct research, etc.—but this is no longer a sustainable model for all institutions. What are the innovations that can actually drive the cost to educate a student lower while driving critical outcomes like student success and completion higher? This series offers provocative questions that challenge the cost-quality paradigm and the old ways of managing institutional strategy and growth.
by James E. "Cid" Seidelman
Why Good is Still the Enemy of Great for Most Colleges and Universities
Many small private colleges and universities knowingly or unknowingly are what could be called high-risk institutions. They lack huge endowments, a large reservoir of student demand, significant differentiation in the market, and high brand value. Many of these institutions are either implementing or contemplating a significant innovation and change strategy to address challenges related to a declining value proposition, a lack of differentiation, budgetary problems, and/or the development of new programs and markets that provide enrollment and revenue lifting power. These are the colleges and universities that most need to utilize a data-driven and evidence-based approach to culture, process and change. It is possible to turn the threats they face into windows of opportunity they initiate and control.